XXIX Metal thanks Chapais for Opemiska support

Executive Summary

• XXIX Metal Corp. publicly acknowledges and welcomes the Town of Chapais' February 10, 2026, call for coordinated action to accelerate economic development in Northern Quebec, specifically regarding the Opemiska copper project.
• The company highlights alignment with local leadership on responsible development, emphasizing structured engagement, phased planning, and the use of northern development programs to reduce duplication and clarify timelines.
• The release reinforces the company's commitment to advancing the Opemiska project, citing its status as one of Canada's highest-grade open-pit copper deposits with a strong Preliminary Economic Assessment (PEA) previously released in October 2025.

Key Details

• Community Engagement: XXIX expresses appreciation for the Town of Chapais' ongoing support and constructive partnership.
• Local Government Action: Chapais issued a public call on Feb 10, 2026, urging coordinated action across Plan Nord, the Province of Quebec, and public partners to advance priority projects like Opemiska.
• Strategic Alignment: The company views the town's vision as a signal of local alignment and a foundation for responsible project advancement.
• Operational Commitments: XXIX intends to:
  • Continue structured engagement with Chapais, Quebec, and neighboring Cree communities.
  • Advance near-term studies through a disciplined, phased process.
  • Support coordinated use of northern development programs and infrastructure planning.
• Project Context (Opemiska):
  • Located in Quebec's Chapais-Chibougamau region.
  • Spans 21,333 hectares.
  • Described as one of Canada's highest-grade open-pit copper deposits.
  • Strong infrastructure and nearby access to the Horne smelter.
• Financial Metrics (from Oct 2025 PEA):
  • Operation: 12,500-tonne-per-day open pit over a 17-year mine life.
  • After-tax NPV (8%): $505 million.
  • IRR: 27.2%.
  • Payback Period: 2.3 years.
  • Assumptions: $4.35/lb copper, $3,000/oz gold, $30/oz silver.
• Thierry Project Overview:
  • Hosts K1 (near-surface) and K2 (underground/surface) zones.
  • Infrastructure includes an all-season road, airport within 5 km, provincial power grid within 8 km, and nearby rail.

Notable Quotes

• "Chapais is demonstrating real leadership, vision for the future and a solutions-oriented approach," said Guy Le Bel, chief executive officer of XXIX. "We're grateful for the town's and Mayor Fortin's and this teams continuing engagement and we share the view that co-ordinated action, across the appropriate agencies and programs, can help Northern Quebec advance priority initiatives in a way that is responsible, timely and beneficial to local and regional stakeholders."